The public is invited to attend a presentation on "Why Princeton University Should Pay its Fair Share of Property Taxes." on Sunday, April 26, from 4:00-6:00 pm, at the Suzanne Patterson Center, One Monument Place (behind Princeton Borough Hall). See attached PDF flyer to help publicize this event. The presentation will be hosted by Princeton Citizens for Tax Fairness, a nonpartisan group supported by the Princeton Community Democratic Organization (PCDO) and the Borough & Township Republican Committee Chairs. Princeton Citizens for Tax Fairness was formed to expand a campaign for property tax relief spearheaded by the Local Issues Committee of the Princeton Community Democratic Organization (PCDO).

The PCDO Local Issues Committee prepared a study that resulted in the PCDO unanimously passing a resolution to encourage elected officials in the Borough and the Township to negotiate a substantially higher Payment in Lieu of Taxes (PILOT) from the University. The presentation on April 26 will include the results of this study. Princeton University owns more than 40% of the real property in Princeton Borough, and more than 14% of the real property in Princeton Township. The PCDO Study showed that if Princeton University had paid taxes on all of its property in 2006, it would have paid $35 million in taxes to local government units. Instead, it paid only $7 million. If the University had paid its fair share, property taxes would have been reduced by 24% for other Borough taxpayers and by 15% for other Township taxpayers. This lost revenue unfairly burdens Princeton residents and businesses. “This effort has reached a defining moment,” said Sue Nemeth, who was elected to the Princeton Township Committee in 2008, and who is a founding member of Princeton Citizens for Tax Fairness. “The Princeton community is uniting to insist that Princeton University recognize its obligation to pay its fair share toward the cost of local government.” “Historically, higher educational institutions were exempted from taxes to ensure academic freedom. This can no longer be used as an excuse. Princeton University, with an endowment of more than $12 billion, is one of the wealthiest universities in the world. Exempting the University from paying its proportionate share of local taxes is unfair to our residents whose high property taxes threaten their economic security. Both Borough and Township residents are concerned that they will be forced to join others who have left the community because of skyrocketing property taxes,” said Princeton Borough Republican Committee Chairman, Dudley Sipprelle. Princeton Citizens for Tax Fairness encourages all Princetonians to join its campaign urging Princeton University to relieve the property tax burden it places on Princeton residents and businesses caused by its insufficient financial support of the Princeton community. An online petition is available at www.petitiononline.com/PCDO2008/petition.html. The presentation will be followed by questions and answers. Light refreshments will be served.

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